Entertainment

VC Firm Eyes College Entrepreneurs With Summer Incubation Program

Some college students prefer to spend their summer at the beach. Those with an entrepreneurial bent, a bold idea and an appreciation for the indoors, however, may find a powerful summer study buddy in venture capital firm Highland Capital.

The firm is now accepting applications for its Summer@Highland 10-week program taking place in Lexington and San Francisco. Highland Capital is seeking university-affiliated, first-time entrepreneurs who want to work full-time on their fledgling startups under the mentorship of firm partners and portfolio company CEOs.

Interested parties should be already pursuing a project that addresses a big opportunity in the technology market, says Michael Gaiss, senior vice president at Highland. The firm would like to see big new ideas in IT, digital, Internet, mobile and health care sectors, he says, though candidates need not have a full-fledged startup just yet.

Applications are due by April 7, at which time the firm will handpick four to six teams per location. Those selected will be rewarded with a $15,000 stipend, complimentary office space and will be under no obligation to the firm once the program is over.

The alternative summer camp, now in its fourth cycle, has proven quite the benefactor for a number of young startups that have gone on to raise funds from Highland or other firms. Gemvara, a site for creating custom jewelry, for instance, raised a $5.2 million Series B round led by Highland in April of last year. Wildfire, makers of tools for brands on Facebook, is another success story. Last year, the startup closed a $4.04 million Series A round led by Summit Partners.

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